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/ 11 July 2005

Sanlam plans R4bn share repurchase

Sanlam, South Africa’s second-largest life assurer, is planning to undertake a share repurchase totaling about R4-billion as part of its major capital restructuring plans, the company said on Monday. The group will offer shareholders R12 per share in a specific pro-rata offering for 10% of their shares.

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/ 11 July 2005

No bubble in SA property market yet

Indications are that the South African residential property market is not generally experiencing bubble conditions just yet. However, it is quite conceivable that certain types of housing in certain areas of the country are experiencing bubble conditions, says a senior Absa economist.

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/ 11 July 2005

Police officers mistaken for male strippers

German police, called to a house early on Sunday because of complaints about noise, were taken aback to be welcomed as eagerly expected male strippers. Two officers were greeted by a group of women with cries of "Are the strippers here at last?" when they visited the premises in the north-western port city of Bremen.

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/ 11 July 2005

Chilly reception for Indonesian ministers

Indonesian ministers got a chilly reception on Monday when they showed up for work in casual wear after a presidential decree to turn down the cooling — only to find the order had been ignored. Vice-President Yusuf Kalla and 16 ministers showed up in batik and casual shirts or that outcast from decades ago, the safari suit.